Bonvoy Marriott presentation today

[trexmdr]

 

[trexmdr]

Basically for $56k and a lot of free points, originally $70k, I can buy 4000 Bonvoy points and add them to my 148k wkorv points and be presidential at 10,000 bonvoy points.

 

[cubigbird]

I hope you didn’t pay that developer pricing. Buy them on the resale secondary market for about $7/point all in after all junk fees. 4000 points resale would cost you about $28,000 all in.

 

[trexmdr]

With 15 months of zero interest rate financing.
I said I’d like to think about this for a day. They said the team drove in from Palm Springs and the deal is only good now.
I said if you think I’m going to give you $56k after a 30 min slide show then you're crazy. I said I guarantee no sale is happening today. They gave me my gift card and left.
They sent two closers. The last way a very pushy sales manager.

 

[trexmdr]

Never intended to buy from the developer with all that I’ve learned from the great minds on this board.

 

[byeloe]

I can buy 4000 Bonvoy points and add them to my 148k wkorv points and be presidential at 10,000 bonvoy points.

It doesn't seem like you know how all the point systems are related.

 

[Hindsite]

You mean Abound club points not Bonvoy points.

 

[davidvel]

Basically for $56k and a lot of free points, originally $70k, I can buy 4000 Bonvoy points and add them to my 148k wkorv points and be presidential at 10,000 bonvoy points.

Abound not Bonvoy.

 

[LeslieDet]

Basically for $56k and a lot of free points, originally $70k, I can buy 4000 Bonvoy points and add them to my 148k wkorv points and be presidential at 10,000 bonvoy points.

Nope - you would be purchasing 4000 MVC Trust Points for the $56k, plus you'd get to select your choice of the "bonus" for spending your hard earned money, which is either Bonus Club Points (which will expire in 2 years) or 688K BonVoy points. Plus it looks like with a new to you AmEx you could finance for 0% interest for 15 months, earning yourself some more BonVoy points. Or, there are other seller financing options pitched too.

 

[trexmdr]

Absolutely correct. All the new points are confusing to me as I’m not really interested in the particulars but I do appreciate the.clarification. I’m a simple person. Use my star options once a year at my home resort. But I can see how the inexperienced can buy these programs at inflated prices. Seem they kept lowering the price and giving hotel points and had me traveling around the world for weeks at a time. They went from $70k to $56k to $55k in a blink of the eye. Makes me wonder how much more fat they could trim and still make money for both the company and sales person.
Again thanks to all for the education over the years and the bonvoy/abound clarification.
Btw I can see how fast talking salespeople scribbling numbers on a piece of paper can take advantage of people as they get older. They had my wife convinced it was the deal of a lifetime.
Always emphasizing that this deal is only good today.

 

[trexmdr]

Regarding financing they were happy to take 10% down and finance the rest at %10 annual rate

 

[TolmiePeak]

Why would anyone take the points even for free? You can rent the points from another person for less than the yearly maintenance fees.

 

[rickandcindy23]

Why would anyone take the points even for free? You can rent the points from another person for less than the yearly maintenance fees.

Really?

 

[TolmiePeak]

Really?

I’m struggling to figure out why anyone would buy the points.


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[rickandcindy23]

I’m struggling to figure out why anyone would buy the points.


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I cannot make sense of a developer purchase myself, but I think it's only the educated TUG members who know the secrets, and I count myself as a person who has very limited knowledge on anything Marriott Abound. I did meet with a TUG member in August who is very adept at using Abound points. Count me as a person willing to learn more about renting from other members. I would guess most knowledgeable people grab reservations and rent them out for a huge profit.

For example, $7.00 per point all-in for a purchase, that sounds pretty good to me, but you are saying I can rent for less than maintenance fees. I am curious how to do that.

It's not like we don't have Abound points, we did luck into it, basically grandfathered, with our Westin SO's, which closed just before the deadline. It was a surprise but I was very sure we wouldn't use Abound. But then I got to thinking about it and maybe it would be of use.

I currently have a SO reservation for late February that will soon be within the >60 days, so I had to reduce the rental price. I wish it wasn't too late to get the Abound points. I understood that I have to decide way ahead of time to use Abound. I am learning.

So that was the reason I said, Really? Long explanation. There is always something new to learn. I find it quite amazing and amusing at the same time.

 

[LeslieDet]

Why would anyone take the points even for free? You can rent the points from another person for less than the yearly maintenance fees.

You must already be an owner of an enrolled week or MVC Trust points to rent them from a fellow owner. And the rental price is typically the MF. When it’s less than the MF the owner is subsidizing your vacation.

Also, renting doesn’t magically get you to a different owner level, and some folks want the ability to book at 13 months 1 or more days. Others like the different banking rules for presidential and chairman levels.

 

[Hindsite]

you are saying I can rent for less than maintenance fees. I am curious how to do that.

Yes you can rent for less than the maint fees for Trust points, its done by renting elected club points from an owner who has a maint fee per club point that is less than the Trust maint fee, which is quite a few. Its quite a "thing" for the Grand Res owners, some of whom do it at scale.

Last week there was a post on one of the FB pages for 10k club points for 2025 at $0.70/club point. That sounds a lot like someone with an enrolled fractional who might have an equivalent maint fee of less than $0.60.

When MVC introduced the transfer in limit of 20K (IIRC) for club points it was to address the brokerage businesses who scooped up large volumes of elected club points, booked prime weeks and then rented them out. As you would expect those brokers have adapted, but it did discourage some less determined individuals from doing it.

Its a really nice facility to have to rent in club points and a total killer in Sales presentations when they try and sell you more points unless you value the extra perks of a higher owner level, which you don't need due to your grandfathering.

 

[TolmiePeak]

You must already be an owner of an enrolled week or MVC Trust points to rent them from a fellow owner. And the rental price is typically the MF. When it’s less than the MF the owner is subsidizing your vacation.

Also, renting doesn’t magically get you to a different owner level, and some folks want the ability to book at 13 months 1 or more days. Others like the different banking rules for presidential and chairman levels.

Yes I took over the contract from my mother in law. I was reluctant at first even though it was free.

We were at the sales presentation today. I wasn't going to go but after some back and forth when checking into the Cypress Harbor I got them upto a $300 cash card and a $100 restaurant card I agreed. The sales person tried to sell us some points at $8.34 and I said no thanks. The maintenance fees are $0.81 per point. I just rented some points from someone else at $0.75 per point. I guess I don't understand the point of buying points. I more interested in being a vulture picking over pieces of meat at the garbage dump.

 

[TolmiePeak]

Yes you can rent for less than the maint fees for Trust points, its done by renting elected club points from an owner who has a maint fee per club point that is less than the Trust maint fee, which is quite a few. Its quite a "thing" for the Grand Res owners, some of whom do it at scale.

Yes the sales person said their fee per point on their Park City week was $0.36

 

[Hindsite]

Yes the sales person said their fee per point on their Park City week was $0.36

That sounds a bit low, but as it came from sales, not really a surprise that is could be incorrect.

 

[LeslieDet]

Yes I took over the contract from my mother in law. I was reluctant at first even though it was free.

We were at the sales presentation today. I wasn't going to go but after some back and forth when checking into the Cypress Harbor I got them upto a $300 cash card and a $100 restaurant card I agreed. The sales person tried to sell us some points at $8.34 and I said no thanks. The maintenance fees are $0.81 per point. I just rented some points from someone else at $0.75 per point. I guess I don't understand the point of buying points. I more interested in being a vulture picking over pieces of meat at the garbage dump.

That price point of $8.34 sounds like you were being pitched to purchase a bundle -- points plus a deeded week somewhere. Given that the starting point on MVC Trust Points these days is something around $17.92 (prior to the discounts and promos), the only way a "per point" price is going to get down into the $8s is with a bundle, and that week in the bundle probably is a crappy week with a relatively high annual MF.

Also, remember that there are owners who have an adjusted MF per point less than the actual owned point MF because their deeded weeks are high value points with a lower MF, they elect points, and then take advantage of the higher return on rented points, so they actually make money. It is possible that $0.75/point rental was elected and not owned points.

Everyone has their own way to vacation. I know folks who own 25k in points and use them all up each year and even rent 10k+ more from fellow owners. They have a large family and are able to enjoy multiple weeks at resort locations. It really just depends upon the person. I definitely vacation differently than I did 10 or 20 years ago.

 

[vacationtime1]

Yes the sales person said their fee per point on their Park City week was $0.36

That sounds a bit low, but as it came from sales, not really a surprise that is could be incorrect.

That number is certainly possible. Were I to elect points for my WKORV-OF unit (which I would never do), my per point cost for 2025 would be $0.41.

 

[TolmiePeak]

That price point of $8.34 sounds like you were being pitched to purchase a bundle -- points plus a deeded week somewhere. Given that the starting point on MVC Trust Points these days is something around $17.92 (prior to the discounts and promos), the only way a "per point" price is going to get down into the $8s is with a bundle, and that week in the bundle probably is a crappy week with a relatively high annual MF.

I'm sure you are correct. I recall something about Grande Lakes or something. I really didn't pay attention. I was more interested in getting out of there so I could get to Disneyworld.

 

[Superchief]

Yes the sales person said their fee per point on their Park City week was $0.36

My cost per point for Mountainside in 2024 for a gold week was .75. Platinum weeks receive a lot more points but .36 appears to be low.